Hammered! Online auctions start with a bang in 2022…

Auction House London has sold the most lots in a single sale in more than a year, at its first auction of 2022.

A record 1,339 bidders were registered to take part in the live sale which saw 90% of the lots sold fetch £24,866,699.

Auctioneer and director of Auction House London, Andrew Binstock said: “The market continues to remain incredibly strong with extremely high demand for property. Imagine trying to fit over 1300 people into an auction room.

“That’s why our live auctions work so well, giving buyers the ability to participate online, while enjoying all the benefits of a live auctioneer conducting the bidding in real time.”

Binstock adds: “Unmodernized homes and land are proving extremely popular with buyers, and properties regularly sell above their agreed reserve price. The competition is so fierce right now – which means it’s the perfect time to sell in the competitive arena of an auction house. There doesn’t seem to be an end to the appetite of buyers and it’s definitely a seller’s market.

The company says there are more users than ever on its website – from 1.6 million in 2019 to 2.4 million in 2021 – and that a greater proportion of young people are accessing the group’s services online. .

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